PRESCRIPTION REBATE PROGRAM
Pharmaceutical Rebates in Long Term Care Facilities – Is your facility currently receiving rebates on any prescriptions paid by the facility? Most long-term care facilities are not aware they may be eligible for drug rebates. The cost of pharmaceuticals is largely determined by pharmaceutical manufacturers. PBMs (Pharmacy Benefit Managers) negotiate drug pricing with pharmaceutical companies, as well as manufacturer rebates. Manufacturers pay rebates to control market share.
How do Long Term Care Facilities Get Rebates? – Healthcare plans and Part D providers take advantage of these rebates. Long term care facilities can take advantage of these rebates for medications where they are the payor source such as Medicare Part A and managed care. The LTC Ventures rebate program is based on what health plans have been doing for years.
Rebate Amount – The amount of the rebates will vary depending on the negotiated rates of manufacturers and the formulary being used.
Comprehensive Contract Portfolio – LTC Ventures has the most extensive portfolio of contracts in the industry to ensure we are able to get the highest rebates available and maximize your rebate potential.
No Change in Pharmacy Provider - LTC Ventures understands the importance of the relationship between LTC facilities and their pharmacy service provider. The facility is not required to make a change in pharmacy providers. LTC Ventures works with your pharmacy on your behalf to get the files necessary to submit for rebates. Should you ever decide to change pharmacy service providers, LTC Ventures will work with the new pharmacy provider to get the necessary information setup within the pharmacy’s operating software to ensure you are still receiving the rebates due to your facility. LTC Ventures has extensive experience in negotiating rates and services and writing pharmacy service agreements on behalf of our facility partners.
Security and Integration – LTC Ventures is HIPPA compliant and uses the most extensive security measures when formatting and integrating information for claims management during the submission process. The result is clean and accurate and assures maximized rebates.
Experience and Expertise – LTC Ventures has extensive experience in working with long-term care facilities and LTC pharmacies to maximize savings while improving service and finding solutions to improve patient care. Our facility rebate program is another effective tool that can help your LTC facility manage your entire pharmacy program.